Amalgamated Bank closes $15M commitment for Greenbacker solar farm

Amalgamated Bank announced the closing of a $15M commitment as part of a nearly $1B aggregate financing to support the construction and operation of Greenbacker Renewable Energy Company’s utility-scale 674 MWdc “Cider” solar farm, the largest solar project in New York State. Cider is located on approximately 2,500 acres in Genesee County, New York, the state where both Greenbacker and Amalgamated Bank are headquartered. Greenbacker broke ground on the solar project-its largest to date-in late 2024, and commenced major construction activities at the site in spring 2025. Cider’s construction is expected to support hundreds of clean energy jobs. The project is slated to enter commercial operation by the end of 2026, when it is projected to generate enough clean electricity to power over 120,000 New York homes annually.